Exchange rate between British pound sterling and the U.S. dollar.
1. Informal; the exchange rate between the British pound and the U.S. dollar. This term is used by currency traders, and it originates from the transatlantic cables used to wire the exchange rate between the two currencies in the 19th century.
The competition, in which the first prize is a luxury cruise to the Mediterranean worth S$30,000 (about US$17,600) and S$20,000 cash, was only opened to contestants from the five countries besides Singapore because the cable-car trips are most popular with tourists from these countries.